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Dollar strength sends US gold to lower finish

Thu Oct 22, 2009 3:09pm EDT
 NEW YORK, Oct 22 (Reuters) - New York gold futures ended lower
on Thursday following the previous session's gains, as a slight
bounce in the dollar decreased bullion's status as a hedge against a
falling U.S. currency.
 For the latest detailed report, click on [GOL/].
 GOLD
 * December gold futures GCZ9 settle down $5.90 at $1,058.60 an
ounce on the COMEX division of the New York Mercantile Exchange.
 * Ranged from $1,052 to $1,062.40. December scaled a record high
$1,072 on Oct. 14.
 * Dollar index up 0.2 percent as investors bet the greenback's
recent sharp slide had been too far.
 * Gold fell even as euro extends gains versus dollar, a day
after the euro rose above $1.50 for the first time in 14 months.
 * Data showing China's economy grew 8.9 pct in the third quarter
could prompt stimulus unwinding, initially lifting the dollar.
 * Investors favor gold amid worries that global currency
depreciation could erode the value of paper assets.
 * Weakness in other non-U.S. currencies could drive gold rally -
Caesar Bryan, GAMCO Gold Fund's portfolio manger.
 * Gold weighed down by falling oil, a day after breaking above
$82 a barrel.
 * Gold-to-oil ratio hovers just above 13 at 13.06, flat from
previous session's 13.06.
 * COMEX estimated final volume at 103,332 lots.
 * Spot gold XAU= at $1,055.45 an ounce, against $1,058.35 late
in New York in the previous session.
 * London afternoon gold fix XAUFIX= $1,053.
 SILVER
 * December silver SIZ9 ends down 28 cents, or 1.6 percent, at
17.545 an ounce, down with gold.
 * Ranged $17.365 to $17.790.
 * COMEX estimated final volume at 29,240 lots.
 * Spot silver XAG= was at $17.45, versus its previous finish
of $17.66 an ounce.
 * London silver fix XAGFIX= at $17.55 an ounce.
 PLATINUM
 * January platinum PLF0 finishes down $4.50 at $1,369.90 an
ounce on broad-based metals' weakness.
 * Spot platinum XPT= was at $1,356.50, compared with its
previous finish of $1,359.
 PALLADIUM
 * December palladium PAZ9 closes down $1.75 at $339.75 an
ounce, tracking platinum.
 * Spot palladium XPD= was at $333, compared with its previous
session close at $332.50.
                     Close  Change   Pct     2008    YTD
                                     Chg   Close   % Chg
US gold      GCZ9    1064.50     5.9   0.6   884.3    20.4
US silver    SIZ9     17.825   0.267   1.5  11.295    57.8
US platinum  PLF0    1374.40   18.10   1.3  941.50    46.0
US palladium PAZ9     341.50    3.85   1.1  188.70    81.0
Prices at 2:52 p.m. EDT (1852 GMT)
Gold         XAU=    1061.75    7.75   0.7  878.20    20.9
Silver       XAG=      17.66    0.21   1.2   11.30    56.3
Platinum     XPT=    1364.00   17.00   1.3  924.50    47.5
Palladium    XPD=     337.00   3.000   0.9  184.50    82.7
Gold Fix     XAUFIX= 1053.75    0.25   0.0  836.50    26.0
Silver Fix   XAGFIX=   17.39  -36.50  -2.1   14.76    17.8
Platinum Fix XPTFIX= 1346.00    9.00   0.7    1529   -12.0
Palladium FixXPDFIX=  334.00    2.00   0.6   365.0    -8.5
 (Reporting by Frank Tang; Editing by Marguerita Choy)








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